Spending Review 2010 - George Osborne’s plans to cut public sector spending
“Public sector cuts could transform Britain’s not-for-profit second beyond recognition”
(Chris Priestley, partner in Withers charities)
Following the Spending Review 2010 George Osborne’s four year plan (2011/12-2014/15) aims to cut public sector spending by a substantial £81 billion. During 2008/9 a third of the income obtained by the charity sector was received from government funding. This is set to dramatically change with expected severe hits of up to £4.5 billion to their funding.
The areas of greatest significance to the charity sector will include:
* A reduction in revenue grants to local authorities by 26% over the period.
* Social housing funding cuts by 60%.
* Local Government reduced by 27%.
* Culture, media and sport reduced by 24%.
Date: 27th October, 2010
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